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Shared Ownership is a government-backed scheme that helps people get on the property ladder.
You start by buying just a share of your home. The size of that share is tailored to suit you. It can be from just 10% but is usually between 25% and 75%.
You typically only need a 5% deposit – and only on the share you buy. Starting smaller also means it’s more straightforward to get a mortgage approved.
You can buy more shares of your home at any time in the future, working towards owning your home outright.
This 3 minute video explains how Shared Ownership works:
Let's say you buy a 25% share of a flat worth £300,000 - your share costs £75,000. You would need:
You will also pay:
You can buy a Shared Ownership home if:
Some local authorities give priority to people who live and work in the area and other groups - see the property listing for more information.
You can buy more shares of your home at any time, from a minimum of 5%, working towards owning your home outright.
If your home was built after 2020, you may be able to buy an extra 1% share each year, for the first 15 years of ownership.
You can sell your home at any time. Our dedicated sales team will be on hand to guide you through the process, and you can manage the progress of your sale through your SO Resi account.
If you prefer, our PDF guide explains the details of Shared Ownership.